Cowen reiterated their market perform rating on shares of Pandora Media (NYSE:P) in a report issued on Friday. Cowen currently has a $4.00 price objective on the Internet radio service’s stock, down from their previous price objective of $6.00.
Other equities analysts also recently issued reports about the stock. Piper Jaffray Companies reaffirmed a buy rating and set a $9.00 price objective on shares of Pandora Media in a report on Friday, November 3rd. Stifel Nicolaus set a $12.00 price objective on shares of Pandora Media and gave the stock a buy rating in a report on Tuesday, October 31st. FBR & Co reaffirmed a buy rating and set a $11.00 price objective on shares of Pandora Media in a report on Tuesday, October 31st. Canaccord Genuity reissued a buy rating and issued a $14.00 price target on shares of Pandora Media in a report on Monday, October 30th. Finally, Wedbush set a $15.00 price target on shares of Pandora Media and gave the stock a buy rating in a report on Monday, October 30th. Four investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $9.27.
Pandora Media (NYSE:P) traded down $0.21 during midday trading on Friday, reaching $4.31. 20,300,000 shares of the company traded hands, compared to its average volume of 11,250,000. Pandora Media has a twelve month low of $4.09 and a twelve month high of $13.36. The company has a current ratio of 4.03, a quick ratio of 4.18 and a debt-to-equity ratio of 1.79. The firm has a market cap of $1,070.00, a P/E ratio of -1.87 and a beta of -0.48.
Pandora Media (NYSE:P) last posted its quarterly earnings results on Wednesday, February 21st. The Internet radio service reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.14). The business had revenue of $395.00 million during the quarter, compared to analyst estimates of $376.79 million. Pandora Media had a negative net margin of 36.83% and a negative return on equity of 111.95%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.13) EPS. sell-side analysts anticipate that Pandora Media will post -0.84 EPS for the current fiscal year.
In other news, insider Kristen Robinson sold 11,403 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $5.07, for a total transaction of $57,813.21. Following the completion of the transaction, the insider now owns 487,526 shares of the company’s stock, valued at $2,471,756.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Roger Lynch sold 78,707 shares of the business’s stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $4.77, for a total value of $375,432.39. Following the transaction, the chief executive officer now directly owns 701,607 shares of the company’s stock, valued at approximately $3,346,665.39. The disclosure for this sale can be found here. Insiders have sold 124,204 shares of company stock valued at $606,102 in the last three months. 2.59% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of P. Ontario Teachers Pension Plan Board boosted its stake in Pandora Media by 126.9% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 16,000,000 shares of the Internet radio service’s stock worth $77,120,000 after buying an additional 8,947,201 shares in the last quarter. EastBay Asset Management LLC purchased a new stake in shares of Pandora Media during the fourth quarter valued at approximately $29,127,000. SG Americas Securities LLC boosted its stake in shares of Pandora Media by 1,179.5% during the third quarter. SG Americas Securities LLC now owns 4,505,951 shares of the Internet radio service’s stock valued at $34,696,000 after purchasing an additional 4,153,778 shares during the period. First Trust Advisors LP boosted its stake in shares of Pandora Media by 55.8% during the fourth quarter. First Trust Advisors LP now owns 10,526,204 shares of the Internet radio service’s stock valued at $50,736,000 after purchasing an additional 3,768,553 shares during the period. Finally, Hunt Lane Capital LP boosted its stake in shares of Pandora Media by 114.1% during the fourth quarter. Hunt Lane Capital LP now owns 6,850,000 shares of the Internet radio service’s stock valued at $33,017,000 after purchasing an additional 3,650,000 shares during the period.
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About Pandora Media
Pandora Media, Inc (Pandora) is a music discovery platform, offering a personalized experience for each of its listeners wherever and whenever they want to listen to music, whether through earbuds, car speakers or live on stage. The Company delivers targeted messages to its listeners using a combination of audio, display and video advertisements.
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